Falcon Plate is no joke. The shielding bonus +4 is useless if you're boxing but 12 % physical reduction is insane with 2 imbuement spots. Lion Plate with 6 % physical reduction is negating a lot less damage and I don't really think the +3 to weapon skill is enough to make it better than Falcon Plate, especially when it also has 2 imbuement spots. It does look better graphically though imho.
Of course if you're rich enough, just grab the Lion Plate at level 270 then grab the Falcon Plate at level 300. I also didnt mention the weight differences because at those levels weight for knights isn't really an issue
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